Phoenix Parks and Preserve Initiative Program (3PI)
In 2008, 83 percent of voters renewed the Phoenix Parks and Preserve Initiative for 30 more years. The initiative sets aside one cent of sales tax for every $10 of purchases to improve and renovate existing parks, and to expand and improve the city's desert preserve system. Sixty percent of initiative proceeds are dedicated to improvements and renovation of city parks and acquisition of land for future city parks; 40 percent is dedicated to land acquisition and development of the city's desert preserves including trails, trailheads and signage.
2006 Bond Program
The bond program was approved by voters in March 2006. Using bond funds, the city borrows money, much like you would for big purchases such as a home or a car. The city repays the bonds over the years using a portion of the city’s property tax. The city's combine property tax rate has remained at $1.82 per $100 of assessed valuation since 1995-96. Also because the city's existing financial reputation is excellent, it can borrow money at a lower interest rate. Numerous parks and recreation facilities have been renovated, constructed, and purchased utilizing bond funding. Bond funds are limited to construction, renovations, and purchasing of new property, but cannot be used for operating expenses.
Impact Fees / Infrastructure Credit Program
Impact fees are primarily generated by new development. Residential construction in undeveloped areas generates the need for infrastructure such as parks; sewer and water lines; and police and fire facilities. A special fee is charged for each home built in these developing areas to cover the costs of building this infrastructure. A percentage of the impact fees are allocated for parks, trails, and recreation facilities.
